PHNOM PENH – The luxury residential cruise ship MV Odyssey has been arrested at a Singapore port over an apparent financial dispute, days after departing Cambodia without the passengers who were forced to leave the vessel in Sihanoukville.
The arrest, reported by CBS News on Nov 8, follows the collapse of operations by Florida-based Villa Vie Residences, which had marketed the vessel as a floating home offering residents the opportunity to travel around the world indefinitely.
Singapore law firm Helmsman LLC is listed in court records as the solicitor responsible for the arrest, although it remains unclear whom the firm represents. A source familiar with the matter told CBS News that the legal action was likely initiated by a fuel supplier.
Villa Vie reportedly owes a supplier in the region approximately US$500,000 (S$640,000), although the identity of the claimant has not been confirmed.
The vessel is now under the control of its lender after Villa Vie failed to keep up with payments. A ship arrest is a legal process allowing a vessel to be detained following a financial or other legal claim, potentially leaving it subject to further proceedings or a judicial sale.
The latest development follows the abrupt suspension of the Odyssey’s planned three-year voyage in Cambodia in late October, when around 200 residents were told to disembark at Sihanoukville Autonomous Port with little notice.
As previously reported by The Post on Oct 30, the US company attributed its decision to suspend operations to soaring fuel costs linked to the war in Iran, which had made the residential cruise’s operating model financially unsustainable.
Read Full Article At Source



